Category Archives: Economy

The false nostrums of the pseudo-science of neoclassical economics have been used to create a system that promotes endlessly increasing consumption of resources and endless elaboration of technology. This system already operates far beyond the needs of people. Our survival … Continue reading →

‘When I use a word,’ Humpty Dumpty said, in a rather scornful tone, ‘it means just what I choose it to mean – neither more nor less.’ Middle income, a term beloved of politicians, is like that. At a time … Continue reading →

Neoclassical economics is without scholarly integrity. It does not belong in universities. It certainly should not be the dominant source of policy advice to governments.

The 1980s were great in many ways, but a 1989 discount rate is looking distinctly old-fashioned in 2020.

A new report from the New South Wales Productivity Commission (NSWPC) announces that “[higher] housing costs […] impose broader economic costs”. That chimes with our own newly published research. The implication is that Australia’s heavily capitalised housing market will weigh down economic recovery … Continue reading →

To achieve and continue with zero-case status we need to minimise the risk there will be a major breach in our current systems for quarantining international arrivals.

Australia is the victim of its own success – the jurisdictions that have succeeded will not give up their gains. Thus, Victoria and New South Wales – and Queensland – have to achieve zero-case status too, otherwise we will have … Continue reading →

Eighty percent of global oil production needs to be replaced by 2040 to meet projected demand. It is increasingly likely, particularly post COVID, that much of this oil production will not be replaced. There is an urgent and existential need … Continue reading →

Acting Immigration Minister Alan Tudge on 4 September announced a ‘Global Business and Talent Attraction Taskforce’ as part of the Government’s JobMaker Plan. Sadly it seems Tudge’s announcement looks increasingly like spin over substance.

Global debt, financial and social problems are about to get worse thanks to the usual suspects – governments’ corporate welfare policies and corporate welfare rorts – and dramatically increase inequality.

While the Morrison government promulgates the US’ and Australian ‘shared values’, the nightmare that is the American health system looms large. Yet dominant opinion since the 1980s would have Australia mimic the US’ and Thatcherite Britain’s ideological predisposition.